Delving into Liberia's energy economy: Technical change, inter-factor and inter-fuel substitution

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	Delving into Liberia's energy economy: Technical change, inter-factor and inter-fuel substitution
	Wesseh, Presley K., Jr. ; Lin, Boqiang ; Appiah, Michael Owusu ; Lin BQ(林伯强)
刊名	http://dx.doi.org/10.1016/j.rser.2013.03.061
	2013
关键词	AUTHOR COCITATION ANALYSIS STEEL SECTOR PEARSONS-R INTERFACTOR/INTERFUEL SUBSTITUTION NONORTHOGONAL PROBLEMS RIDGE REGRESSION CHINESE IRON DEMAND TECHNOLOGIES CONTROVERSY
英文摘要	The industrial energy mix of Liberia is dominated by petroleum products. This has generated serious environmental problems, contributing immensely to CO2 emissions and other pollutants in the country. This study has attempted to investigate the potential for inter-factor and inter-fuel substitution between capital, labor, petroleum and electricity in Liberia by employing a translog production and cost function approach. Ridge regression procedure has been adopted to estimate the parameters of the function due to multicollinearity in the data. Estimation results show that all inputs are substitutes. These suggest that price-based policies, coupled with capital subsidy programs can be adopted to redirect technology use towards cleaner energy sources like electricity; hence, retaining the ability to fuel the economy, while also mitigating greenhouse gas (GHG) emissions. Substitution between energy and labor and energy and capital implies that removal of price ceilings on energy in Liberia would tend to reduce energy use and increase capital and labor intensiveness. Notwithstanding, the study seems to show no evidence of convergence in relative technological progress of the four inputs implying that petroleum will continue to play a dominant role in the energy consumption mix of Liberian industry while labor investment will continue to outweigh capital inputs. Finally, the findings of this study provide general insights and underscore the importance of policies that focus on installed capacity of renewable electricity, energy intensity targets as well as merger of enterprises. (C) 2013 Elsevier Ltd. All rights reserved.
语种	英语
出版者	PERGAMON-ELSEVIER SCIENCE LTD
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/90153]
专题	经济学院－已发表论文
推荐引用方式 GB/T 7714	Wesseh, Presley K., Jr.,Lin, Boqiang,Appiah, Michael Owusu,et al. Delving into Liberia's energy economy: Technical change, inter-factor and inter-fuel substitution[J]. http://dx.doi.org/10.1016/j.rser.2013.03.061,2013.
APA	Wesseh, Presley K., Jr.,Lin, Boqiang,Appiah, Michael Owusu,&林伯强.(2013).Delving into Liberia's energy economy: Technical change, inter-factor and inter-fuel substitution.http://dx.doi.org/10.1016/j.rser.2013.03.061.
MLA	Wesseh, Presley K., Jr.,et al."Delving into Liberia's energy economy: Technical change, inter-factor and inter-fuel substitution".http://dx.doi.org/10.1016/j.rser.2013.03.061 (2013).